Competitiveness of U.S. Insurance Companies, Financial Service System, and Non-bank Financial Firms: Hearings Before the Subcommittee on Financial Institutions Supervision, Regulation and Insurance, Task Force on International Competitiveness of U.S. Financial Institutions of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred First Congress, Second Session, July 24, 26 and August 1, 1990 |
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abroad affiliates American assets Bank Holding Company banking and commerce banking industry banking system BARNARD barriers BHCA billion capital markets Chairman LAFALCE changes commercial banking organizations compete COMPETITIVENESS OF U.S. Congress Council deposit insurance depository institutions deregulation developments domestic DREIER Europe European Community FDIC financial firms financial services financial services industry FIRREA Ford Motor Company FRIEDMAN GATT Glass-Steagall Act GLAUBER insurance companies insurance industry international competitiveness International Insurance interstate banking investment Investment Company Institute issues Japan Japanese banks LACKRITZ legislation mutual fund industry national treatment nonbanking operations overseas permitted problems profitable regulation restrictions restructuring risk safety and soundness savings and loan securities business securities industry separation of banking service trade subsidiary task force taxpayer U.S. banks U.S. FINANCIAL INSTITUTIONS U.S. financial services U.S. firms U.S. funds U.S. insurers U.S. market U.S. mutual funds U.S. securities firms UCITS underwriting United universal banking Yes Yes
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Page 29 - Board, the Comptroller of the Currency, the Office of Thrift Supervision, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of...
Page 119 - The Investment company Institute is the national association of the American investment company industry. Its membership includes 4,607 openend investment companies ('mutual funds'), 442 closed-end investment companies and 13 sponsors of unit investment trusts.
Page 139 - System; the Office of the Comptroller of the Currency; the Office of Thrift Supervision; the Federal Deposit Insurance Corporation; the National Credit Union Administration...
Page 78 - International Insurance Advisory Council organized to coordinate industry response to LDC nationalizations. 1967 : Council begins provision of industry expert advisors to US delegations to OECD and other international organization meeting. 1968 : Committee of American Insurers in Europe organized in Brussels to support European integration. 1972: Council white paper opposes insurance nationalism and protectionism setting out liberal trade principles. 1973: I nteramer ican Federation of Insurance...
Page 9 - President of the Investment Company Institute, which is the national association of the American mutual fund industry.
Page 70 - And by the mid 1980s other governments came to recognize the US call to , eliminate trade barriers to internationally traded services would not go away. They also recognized the issue was as important to them too. Current Efforts to Improve Trading Conditions... We are meeting today at a time when progress in rolling back barriers to international insurance trade is moving forward on two fronts. There is the bilateral front Over recent years have seen a number of countries opening heretofore closed...
Page 100 - For example, it is inconceivable that any major bank would walk away from any subsidiary of its holding company. If your name is on the door, all of your capital funds are going to be behind it in the real world. Lawyers can say you have separation, but the marketplace is persuasive, and it would not see it that way.
Page 80 - Tables Draft of Proposed Service Trade Agreement at GATT. Mr. GEJDENSON. Thank you. I have already had in the last, I think, two months, one of the Connecticut companies come in and talk to us about their overseas efforts and, I think, maybe even two.
Page 69 - US direct insurers and reinsurers found themselves being driven from markets by a wave of trade discrimination. The discriminatory practices fit into three general classes: First and most formidable were those practices simply closing a market to the US insurer by nationalization or domestication of the market. These practices denied market access to the US insurer. A second class of discriminatory practices made it virtually impossible to set up, license, and organize an effective establishment...